Aetrium Shareholders Reach Quorum and Dissidents Win Vote by Large Margin
NEW YORK, Dec. 10, 2012 (GLOBE NEWSWIRE) -- Jeffrey E. Eberwein, Chairman and
spokesman for Concerned Aetrium Shareholders, would like to provide the
following update to the shareholders of Aetrium Incorporated ("Aetrium",
"ATRM", or the "Company") (Nasdaq:ATRM) regarding the Special Meeting of
Shareholders originally scheduled on November 26.
Concerned Aetrium Shareholders ("CAS", "we", or "us") has continued to solicit
proxies in favor of our slate of director nominees being elected at the
Special Meeting, which we believe was validly adjourned by a representative of
CAS until 4:30 p.m. today, Monday, December 10 at ATRM's offices. CAS will be
attending the adjourned Special Meeting and we invite all interested
shareholders to join us. In the event ATRM fails to conduct the adjourned
Special Meeting, CAS has notified ATRM that a representative will conduct the
adjourned Special Meeting.
CAS is pleased to announce that as of today, December 10, greater than 50% of
ATRM's shareholders have returned valid proxies and have voted in the Special
Meeting. Despite gross violations of shareholder rights recently committed by
Aetrium's incumbent board members (the "Incumbent Directors"), including an
unlawful and last minute bylaw amendment which was an attempt to prevent CAS
from adjourning the meeting to December 10, ATRM's shareholders have spoken
and resoundingly support CAS' nominees.
Approximately 85% of all votes cast at the Special Meeting voted for the
election of CAS' slate of director nominees. The Incumbent Directors received
approximately 15% of the all votes cast (the actual range was 14-32% depending
on director). This means that the Incumbent Directors are supported by only
7-17% of all shares outstanding, depending on director.The Incumbent
Directors have shown themselves to be the very definition of entrenched using
every trick in the book, legal or not, to stay in power.CAS calls on the
Incumbent Directors to act in the best interest of shareholders by attending
the adjourned meeting today, Monday, December 10 and seating the duly elected
CAS slate of director nominees.
In the event the Incumbent Directors once again fail to seat the duly-elected
CAS director nominees after the shareholder meeting today, Concern Aetrium
Shareholders will continue to be forced to look to the courts for the CAS
director nominees to be seated.Concerned Aetrium Shareholders have a hearing
date with a Minnesota state judge scheduled for December 18 at 1:00 p.m.
Concerned Aetrium Shareholders would like to thank all ATRM shareholders who
voted in the Special Meeting.We will continue to fight for shareholder value
and shareholder rights and we will use every means necessary for the will of
the shareholders to be enforced.We strongly urge any shareholder who has not
yet voted their proxy to do so before 4:30 p.m. today.We urge you to vote the
GREEN Proxy Card, but even if you decide to vote for the Incumbent Directors
using the white proxy card or wish to cast an "abstain" vote, please VOTE.
CONCERNED AETRIUM SHAREHOLDERS (CONSISTING OF JEFFREY E. EBERWEIN, ARCHER
ADVISORS, LLC, ARCHER FOCUS FUND, LLC, ARCHER EQUITY FUND, LLC, STEVEN
MARKUSEN, GLOBALTEL HOLDINGS LLC, DILIP SINGH, RICHARD K. COLEMAN, JR., GALEN
VETTER, ALFRED JOHN KNAPP, JR., ANDOVER GROUP, INC., BOSTON AVENUE CAPITAL
LLC, CHARLES M. GILLMAN, JAMES F. ADELSON AND STEPHEN J. HEYMAN) ARE OR MAY BE
DEEMED TO BE "PARTICIPANTS" UNDER THE RULES OF THE SECURITIES AND EXCHANGE
COMMISSION ("SEC") IN THE SOLICITATION OF PROXIES FOR THE ELECTION OF THEIR
SLATE OF NOMINEES TO AETRIUM INCORPORATED'S ("ATRM") BOARD OF DIRECTORS AT THE
SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON NOVEMBER 26, 2012.IN CONNECTION
WITH THE PARTICIPANTS' PROXY SOLICITATION, THEY HAVE FILED A DEFINITIVE PROXY
STATEMENT WITH THE SEC TO SOLICIT SHAREHOLDERS OF ATRM.
SHAREHOLDERS OF ATRM ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT
BECAUSE IT CONTAINS IMPORTANT INFORMATION AND SUCH SHAREHOLDERS SHOULD RELY ON
SUCH DEFINITIVE PROXY STATEMENT AND NOT ON THIS RELEASE OR ANY PRELIMINARY
PROXY STATEMENT.THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS RELATED TO SOLICITATION OF PROXIES WILL BE AVAILABLE WITHOUT CHARGE
ON THE SEC'S WEBSITE AT WWW.SEC.GOV.
IN ADDITION, THE PARTICIPANTS IN THE SOLICITATION WILL PROVIDE COPIES OF THE
PROXY STATEMENT AND THEIR OTHER SOLICITING MATERIALS WITHOUT CHARGE UPON
REQUEST.REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANT'S PROXY
SOLICITOR, INVESTORCOM, INC., TOLL FREE: (877) 972-0090 OR VIA EMAIL AT:
INFORMATION REGARDING THE PARTICIPANTS, INCLUDING THEIR DIRECT OR INDIRECT
INTERESTS IN THE SOLICITATION, BY SECURITY HOLDINGS OR OTHERWISE, IS CONTAINED
IN THEIR DEFINITIVE PROXY STATEMENT ON SCHEDULE 14A FILED WITH THE SEC ON
NOVEMBER 8, 2012, WHICH IS AVAILABLE WITHOUT CHARGE ON THE SEC'S WEBSITE AT
CONTACT: Jeff Eberwein
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